Harbour Investments Inc. Buys 11,713 Shares of AT&T Inc. (NYSE:T)

Harbour Investments Inc. raised its stake in shares of AT&T Inc. (NYSE:T) by 9.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 142,186 shares of the technology company’s stock after acquiring an additional 11,713 shares during the quarter. Harbour Investments Inc.’s holdings in AT&T were worth $3,128,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV increased its stake in shares of AT&T by 1,379.0% in the second quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock worth $270,581,000 after purchasing an additional 13,201,774 shares during the period. AQR Capital Management LLC increased its stake in shares of AT&T by 43.3% in the second quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock worth $414,563,000 after purchasing an additional 6,602,586 shares during the period. Bank of New York Mellon Corp increased its stake in shares of AT&T by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after purchasing an additional 5,592,123 shares during the period. Thornburg Investment Management Inc. increased its stake in shares of AT&T by 22.0% in the second quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock worth $477,528,000 after purchasing an additional 4,511,725 shares during the period. Finally, Jupiter Asset Management Ltd. bought a new position in shares of AT&T in the second quarter worth about $78,570,000. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Oppenheimer boosted their price target on AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Citigroup boosted their price target on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. TD Cowen boosted their price target on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Scotiabank lowered AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, JPMorgan Chase & Co. boosted their price target on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AT&T has an average rating of “Moderate Buy” and a consensus price target of $23.40.

AT&T Stock Down 0.7 %

Shares of T opened at $22.15 on Wednesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The business’s 50 day simple moving average is $21.75 and its 200-day simple moving average is $19.60. AT&T Inc. has a one year low of $15.51 and a one year high of $22.73. The company has a market capitalization of $158.93 billion, a P/E ratio of 18.01, a PEG ratio of 3.35 and a beta of 0.59.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter in the previous year, the company posted $0.64 EPS. AT&T’s revenue was down .5% on a year-over-year basis. As a group, sell-side analysts predict that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 5.01%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s payout ratio is 90.24%.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.